What the analyst said

Cantor Fitzgerald analyst C.J.

Muse reiterated an Overweight rating and $320.00 price target on Lam Research (NASDAQ: LRCX).

“We had the pleasure of hosting investor meetings with Doug Bettinger (CFO), Sesha Varadarajan (COO), and Ram Ganesh (IR).

Overall, management’s key focus was on the strong end-market outlook led by AI, the company’s growing SAM and share expected today and in the years ahead, today’s current very tight supply environment driving lead times for Equipment higher, and how this backdrop is starting to drive structural changes in partnership with customers, desire for bleedingedge tools, and customers engaging sooner as it relates to lead times/tool slotting.

As for our biggest takeaway – it is the fact that Lam will be the top outperforming large cap Semi Equipment company by revenue for both CY25 and CY26 in a relatively subdued NAND environment.

When you take into account NAND should soon begin to accelerate in a multi-year time horizon (given prioritization of clean room to DRAM), it is easy to see Lam outperforming into CY27 and beyond.

We continue to point to stretch goal earnings power of $10 in CY27 (cons. $8.90), $12 in CY28 (cons.

N/A), and $15 into CY29 (cons N/A), which supports our $320 PT (with CY29 support greater upside over time).

Thus, no change to our view – we reiterate our Overweight rating and Lam Research remains a TOP PICK.”

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Where the price stands

LRCX trades at $185. The 9 analysts who set a target in the last 3 months range from $290 to $400, with a median of $350. This $320 target is 9% below the median.

Since the note LRCX has moved −26% (from $249). 12-month window: day 189 of 365, closes on April 30, 2027.

Track record

This call✓ Target reached on May 26, 2026, 33 days after the note. Same target as this firm’s April 23, 2026 note, so it is scored there.

Firm track recordCantor: 80% of its 55 targets at least a year old were reached within 12 months (#10 of 26 firms). Accuracy ranking →

Cantor on Lam Research

Cantor price targets on Lam Research

5 calls from January 29, 2026 to June 29, 2026. The target went from $320 to $500 (+56%). The rating stayed Buy.

Cantor targetLRCX share price
  1. June 29, 2026Target raised from $425 (+18%)Buy$500
  2. June 10, 2026Target raised from $320 (+33%)Buy$425
  3. April 30, 2026 This noteKept the $320 targetBuy$320
  4. April 23, 2026Kept the $320 targetBuy$320
  5. January 29, 2026Earliest call shownBuy$320
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Other analysts on Lam Research

Lynx Equity Kept rating and price target Oct 28 $400maintained BernsteinBuy Cut price target −9%, kept rating Oct 22 $350from $385 UBSBuy Cut price target −6%, kept rating Oct 22 $400from $425 Morgan StanleyBuy Cut price target −12%, kept rating Oct 22 $339from $385 Bank of AmericaBuy Cut price target −10%, kept rating Oct 22 $345from $385
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.